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Crypto Flows to Human Trafficking Services Jump 85% to Hundreds of Millions in 2025

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Crypto Flows to Human Trafficking Services Jump 85% to Hundreds of Millions in 2025


As Epstein-linked revelations emerged, new data show crypto payments to suspected trafficking services surged 85% globally in 2025.

As global attention remains fixed on the continued release and scrutiny of emails and documents tied to sex trafficker Jeffrey Epstein, attention has turned to how exploitation networks operate and move money.

Against this backdrop, a new report from Chainalysis disclosed that cryptocurrency flows to suspected human trafficking-related services surged sharply in 2025. Transaction volumes reached hundreds of millions of dollars, up 85% year-over-year. While the figures quantify financial activity, the report stressed that the true cost of these crimes is borne by victims, not balance sheets.

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Trafficking-Linked Crypto Activity

The increase in crypto-linked trafficking activity has occurred alongside the expansion of Southeast Asia–based scam compounds, online gambling operations, and Chinese-language money laundering and guarantee networks, many of which operate openly on Telegram and form a tightly connected illicit ecosystem with global reach.

Unlike cash-based systems, blockchain transparency helps investigators to trace these flows, thereby creating opportunities to identify and disrupt networks that would otherwise remain hidden. Blockchain analytics company Chainalysis tracked four primary categories of suspected cryptocurrency-facilitated trafficking: Telegram-based “international escort” services suspected of trafficking people; “labor placement” agents linked to kidnapping and forced labor in scam compounds; prostitution networks; and vendors of child sexual abuse material (CSAM).

Payment behavior differs across categories. “International escort” services and prostitution networks rely almost entirely on stablecoins as they prioritize price stability and ease of conversion, but CSAM vendors have historically favored Bitcoin. However, its dominance is declining as alternative Layer 1 networks and privacy tools emerge.

Escort services were found to be deeply integrated with Chinese-language money laundering networks that rapidly convert stablecoins into local currencies and reduce exposure to asset freezes by centralized issuers. Transaction-size analysis points to professionalized operations as nearly 49% of “international escort” service transfers surpass $10,000, which is consistent with organized enterprises operating at scale.

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Meanwhile, prostitution networks cluster in the $1,000-$10,000 range. These networks often use structured pricing and customer-service models, advertising standardized rates across major East Asian cities, which in turn produce identifiable on-chain patterns useful for detection.

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CSAM Crypto Economy

CSAM operations reveal a different structure. It was found that roughly half of transactions are under $100, and there is a shift toward subscription-based models that generate predictable revenue streams. In 2025, Chainalysis observed growing use of Monero and instant exchangers to launder CSAM proceeds, in addition to an emerging overlap between CSAM networks and sadistic online extremism communities, where abuse material is monetized through cryptocurrency payments.

One major CSAM site identified in July 2025 alone used more than 5,800 crypto addresses and generated over $530,000 since 2022. The report also stated that trafficking-linked services leverage US-based infrastructure for scale and legitimacy, while operators often remain overseas to limit personal exposure.

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Crypto World

Grayscale Files With SEC to Convert Aave Trust Into ETF

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Grayscale Files With SEC to Convert Aave Trust Into ETF

Crypto asset manager Grayscale filed for regulatory approval to convert its trust tracking the token of the decentralized lending protocol Aave into an exchange-traded fund (ETF).

The company filed a Form S-1 registration statement with the Securities and Exchange Commission on Friday, saying it intends to convert the trust and rename it the Grayscale Aave Trust ETF.

Grayscale added that it plans to list the fund on NYSE Arca, one of the most popular exchanges for trading ETFs, under the ticker “GAVE.” It will charge a 2.5% fee, and Coinbase will serve as both its custodian and prime broker.

Source: Henry Jim

Grayscale’s filing is one of several ETFs seeking to track altcoins, suggesting that Wall Street still has an appetite for crypto exposure even amid a market downturn.

Aave is the largest decentralized finance protocol, with over $27 billion in total value locked, according to DefiLlama. The platform allows users to lend and borrow crypto across multiple blockchains, and the AAVE token can be staked to earn yield.

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Grayscale joins Bitwise in Aave ETF race

With its filing, Grayscale is the second to seek US regulatory approval for an ETF tied to Aave (AAVE), currently joining only Bitwise in looking to launch a similar fund.

Bitwise filed with the SEC in December to launch the Bitwise AAVE Strategy ETF, among a slew of filings that sought to create ETFs tied to popular altcoins, including Uniswap (UNI) and Zcash (ZEC).

Bitwise’s ETF plans to hold up to 60% of its assets directly in AAVE tokens and at least 40% in securities, such as other ETFs that are exposed to AAVE, while Grayscale’s would hold AAVE tokens directly.

Related: Roundhill’s election prediction ETFs are ‘potentially groundbreaking’: Analyst

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The two ETFs are set to be the first in the US to offer direct exposure to Aave, joining a short list of overseas products that have launched to track the token.

In Europe, 21Shares launched an Aave exchange-traded product on the Nasdaq Stockholm in November, several years after Global X launched a similar Aave product in Germany in early 2023.

The AAVE token has traded down 1.6% over the past day to $126 and is more than 80% off its all-time high of nearly $662, reached in May 2021 amid a bull market for altcoins, according to CoinGecko.

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